It would be helpful to know what the opening and stairs lead to. You're a bit light on info.

The living room is sunken down from the first floor (where the kitchen, dining room, guest bedroom, and bathroom are located). Here's a shot of the lower floor in its entirety.

Thank you so much, @BeverlyFLADeziner!! Those both look so much better than what I came up with. Quick question...is it okay that the couch is that far back from the TV? This was the bit I've been getting stuck on.

Your room is only 16 ft wide! That’s the width of most bedrooms and I’m sure you can sit in bed and still see the TV. Besides, for most new living rooms, TVs are not selected smaller than 65” and many who watch sports are looking fo 80” screens

Here are examples